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Singapore port records 66% growth in vessel traffic since May 2023
Posted on July 18, 2024 |
Vessel arrivals in Singapore have increased by nearly 50% in 2024 compared to 2023.
Shipment delays in Singapore rose by 44% in May and 27% in June up to June 25.
Container delays are partly due to congestion in Singapore, which handles a fifth of the world's containers.
Shipping disruptions are also caused by longer voyages due to Red Sea diversions.
Despite some improvements, Panama Canal transits remain below historical levels, causing additional delays.
Recent strikes in Germany and potential strikes in Canada and the US East Coast contribute to shipping delays.
The annual peak shipping season has started early, and these challenges are expected to persist.